1. What is FINMAX?
  2. Is FINMAX regulated?
  3. Is FINMAX a scam?
  4. FINMAX in India
  5. FINMAX in the USA
  6. Deposits and Withdrawals
  7. Apps
  8. Demo Account
  9. Conclusion

Is FINMAX a scam or a legit broker?

FINMAX is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, never monitored in terms of its safety and simply may operate the business in any way it wishes.

What is FINMAX?

FINMAX is a CFDs and binary broker (See the list regulated binary brokers). Its trading platform provides an opportunity to use in trading more than 1000 underlying assets, the list of which is constantly expanding. FINMAX offers assets from the groups of financial instruments as: Forex currency pairs, stocks, indices and commodities. The broker claims to have an amazing team of financial market professionals, however, with all the benefits mentioned on the website, we still have a lot of questions about the company’s reliability.

About Finmax
🗺️ Registered inBulgaria
🗺️ Type of LicenseNo License
🛡️ Is Finmax safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

Licenses & Regulation

Is FINMAX regulated?

It is not safe to trade with FINMAX as it is not regulated. This broker is owned and operated by Max Capital Ltd, Svitrigailos, Vilnius with the operational office address in Sofia, Bulgaria. However, we didn’t find this company in the register of the Bulgarian Financial Supervision Commission.

Being located in Bulgaria, the FINMAX does not hold any financial license to offer its service across major markets. Apart from the legitimate status, the unauthorized nature of trading inflicts the highest risk to lose funds due to the fact that none of the authorities check on the implemented safety measures and protective tools. Therefore, the FINMAX or any other non-regulated broker may use and manage client’s money in any manner with no imposed consequences.

Is FINMAX a scam?

The terms and conditions of the broker state that the company is supervised under the laws of the United Kingdom, but there is no mention of the broker in the regulator’s register and FINMAX actually doesn’t have any legal rights to offer its financial services to the UK residents.

FINMAX claims to be regulated by the FMRRC. Although FMRRC is an independent self-regulatory agency which was created to provide a level of regulation for derivative dealers and brokers. It has no connection with the Central Bank of Russia, the official regulatory body in Russia, and has very few legal powers with regards to regulating FMRRC regulated brokers. 

FINMAX in India

FINMAX allows Indian traders to open accounts and trade. However, FINMAX has no mention of complying with any Indian regulators on its website. Here you can find the Best Forex Trading Platform in India for you. It is also worth mentioning that Forex trading is actually prohibited in India. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here. 

FINMAX in the USA

The United States is one of the countries that is not accepted by FINMAX. As per the U.S law, brokers regulated by CFTC are the only brokers allowed for the USA traders. So, except for FINMAX, you are only permitted to trade with the U.S regulated platforms.

Deposits & Withdrawals

The minimum deposit is 250$. The payment options include: credit/debit cards, bank transfer, Yandex money, Qiwi wallet, Webmoney, Perfect money. 

Apps

FINMAX offers a modern trading platform for your mobile device, we support the following – iOS, Windows Mobile and Android.

This platform is identical to the terminals that are available for desktop PC’s and laptops. However, it is fully adapted to mobile devices which allows you to trade with comfort from any location, where-ever you are, if your device is connected to the Internet.

Demo Account

The broker does not offer a demo account.

Read about FBS Broker which offers a Demo account.

Conclusion

Even though the trading offering might seem attractive, there are many questions in regards to the trust of the FINMAX company services and the manner they do operate the online trading itself. Of course, an offshore status of the company does not guarantee the provision of services at the necessary level of client and funds protection. 

For that reason, we would advise choosing the broker more carefully and check on the first step broker’s regulation status. The reputable firms that hold FCA, FINMA or other licenses are established in accordance with the international standards, protecting clients at every step and even compensating the trader in case the things go wrong with the company. So of course, we always advise only regulated firms to trade with, as the market trading business with its decentralized nature, unfortunately, attracts many scammers, and the trader should carefully check where to invest money and trade.

Yet, it is always great to hear your personal opinion about FINMAX. So you may share your experience or thoughts or discuss them below or ask us for additional information.

No news available.

3 responses to “FINMAX”

  1. Hello i am Nathaniel Holmes i have registered U all semt mexa welcome but now suddenly its a big problem i cant login i wonder why n now it wants to find reasons to fault me Please help me fix it Thank u

  2. Martin Kortschak

    23:23 (vor 1 Minute)

    an support; Anna; compliance
    So now my next public writing about Finmax – now with all the involved names !
    https://55brokers.com/finmax-review/

    You can see the words :
    Carefull with Finmax – Money stolen – not serious and criminal !
    ATTENTION at FINMAX – Avoid Finmax!
    My experiences are consistently negative – I won’t mention any names here and I will report on my personal experiences
    to inform or warn other customers.
    First to Finmax itself: The head office seems to be in London and there are hardly any German-speaking employees. The broker
    is registered in Vanuatu and only has Russian regulation.
    As with other dubious brokers, everything seems to be going perfectly at first. Only annoying callers push for ever higher stakes
    And be careful with multiple simultaneous deals: If a value falls below a certain level and your balance falls below a certain percentage
    the trade is automatically terminated. However, this will reduce their credit, and further deals will be concluded in a chain reaction
    and suddenly your money is gone in a short time.
    You should observe everything daily and be really careful – and that takes more time than you first think.
    Payouts should supposedly not always work and take a very long time and also the tempting bonus that you get with corresponding
    Deposits gets canceled again.
    I was once not given a promised bonus at all and these personal advisors like Anthony Kroiss are replaced again and again
    suddenly no longer available. For me, at least 3 such employees suddenly stopped within a few months! And I have
    these boars well-financed – but let’s stick to the facts and do not suspect anything dubious.
    After several payments to dubious partners in various countries such as Hungary (Renatis Itgroup KFT), Romania (Methodology Information Training SRL) or Lithuania (Know&DevelopLiveSRL), my last payment is by bank transfer
    suddenly not arrived and never posted to my account – the money just disappeared! Even the bank Epayblock (Vilnius – Lithuana)do not cooperate.
    These partners cannot be reached either by phone or email and Finmax does not want to be to blame and does not provide any information.
    Of course, my bank tried everything possible, but a cancellation or recall of the money was refused without good reason!
    There is only the way to the lawyer, the police … – I think there are better ways to destroy your money.
    Finally, the unbelievably cheeky solution proposed by my “supporter” Anna Janowska: Simply deposit again and then act successfully, and
    so the lost money can easily be recovered.
    A great suggestion and a great help – especially when you run out of money!
    See for yourself – I can only say: No more Finmax or ATTENTION at FINMAX!

  3. Carefull with Finmax – Money stolen – not serious and criminal !
    ATTENTION at FINMAX – Avoid Finmax!
    My experiences are consistently negative – I won’t mention any names here and I will report on my personal experiences
    to inform or warn other customers.
    First to Finmax itself: The head office seems to be in London and there are hardly any German-speaking employees. The broker
    is registered in Vanuatu and only has Russian regulation.
    As with other dubious brokers, everything seems to be going perfectly at first. Only annoying callers push for ever higher stakes
    And be careful with multiple simultaneous deals: If a value falls below a certain level and your balance falls below a certain percentage
    the trade is automatically terminated. However, this will reduce their credit, and further deals will be concluded in a chain reaction
    and suddenly your money is gone in a short time.
    You should observe everything daily and be really careful – and that takes more time than you first think.
    Payouts should supposedly not always work and take a very long time and also the tempting bonus that you get with corresponding
    Deposits gets canceled again.
    I was once not given a promised bonus at all and these personal advisors like Anthony Kroiss are replaced again and again
    suddenly no longer available. For me, at least 3 such employees suddenly stopped within a few months! And I have
    these boars well-financed – but let’s stick to the facts and do not suspect anything dubious.
    After several payments to dubious partners in various countries such as Hungary (Renatis Itgroup KFT), Romania (Methodology Information Training SRL) or Lithuania (Know&DevelopLiveSRL), my last payment is by bank transfer
    suddenly not arrived and never posted to my account – the money just disappeared! Even the bank Epayblock (Vilnius – Lithuana)do not cooperate.
    These partners cannot be reached either by phone or email and Finmax does not want to be to blame and does not provide any information.
    Of course, my bank tried everything possible, but a cancellation or recall of the money was refused without good reason!
    There is only the way to the lawyer, the police … – I think there are better ways to destroy your money.
    Finally, the unbelievably cheeky solution proposed by my “supporter” Anna Janowska: Simply deposit again and then act successfully, and
    so the lost money can easily be recovered.
    A great suggestion and a great help – especially when you run out of money!
    See for yourself – I can only say: No more Finmax or ATTENTION at FINMAX!

Leave a Reply

Your email address will not be published.

* code